Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    226 Ohio Ave Madison, WI 53704

    • Investment properties
    • 2,400 SF
    • 0.07 lot acres
    For Sale
    View listing
    $1,500,000
    Value Estimation
    Location Intelligence
    Property ID
    US92-0562397
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 226 Ohio Ave

    Year built
    1910
    Lot size
    0.07 lot acres
    Property size
    2,400 SF
    Zone code
    TSS
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    0710-064-3707-6
    APU
    71006437076

    Description

    This exceptional multifamily investment property, located at 226 Ohio Ave in Madison, Wisconsin, presents a compelling opportunity. The 4,918 square foot building, constructed in 1910, sits on a 0.07-acre lot (APN 0710-064-3707-6) and boasts a desirable corner location at Ohio Ave & Atwood Ave, ensuring excellent visibility. Currently, the property features two street-level retail tenants: a salon and a clothing store, along with the Ohio Tavern occupying the lower level. The tavern lease has two years remaining, but the owner is open to early termination. Note that the bar's business and fixtures are not included in the sale. The lower level also includes storage, a kitchen area with a grease trap and walk-in cooler (no hood system). The building offers a large back deck and ample outdoor patio seating along Ohio Ave. The property has a 3.00% cap rate and a net operating income (NOI) of $44,953.08. The asking price is $1,500,000. The 2024 assessed value is $691,000.00, and 2023 property taxes totaled $12,140.91. The permitted zoning is TSS, and the building benefits from 3-phase electric service. Further details regarding lease terms and potential upside are available upon request. This is a rare chance to acquire a well-located, income-producing property in a thriving Madison neighborhood.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $360,000

    • CAP approach

      CAP return
      Estimation
      6%
      $475,000
      6.5%
      $455,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $430,000
      Geo Method
      $435,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $345,000
      Retail
      $345,000
      Mixed-Use
      $440,000
      Hospitality
      $475,000
      Educational
      $375,000
      Residential Income
      $430,000
      Energy
      $450,000
      Income-Based Land
      $435,000
      Food Service
      $460,000

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3473
    Latitude
    43.0939
    CBSA code
    31540
    CBSA name
    MADISON, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $11,170
    $31,000
    $597,000
    $628,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,000 SF

      2040 Winnebago St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,000 SF
      2040 Winnebago St, Madison, WI 53704-5372
      View Details
    • Value Estimation by Request
      4,312 SF

      2717 Atwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,312 SF
      2717 Atwood Ave, Madison, WI 53704-5720
      View Details
    • Value Estimation
      $1,135,000
      3,152 SF

      2201 Atwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,152 SF
      2201 Atwood Ave, Madison, WI 53704-5601
      View Details
    • Value Estimation
      $2,935,000
      25,041 SF

      1802 Pankratz St

      OFFICE/RESIDENTIAL (MIXED USE) • 25,041 SF
      1802 Pankratz St, Madison, WI 53704-4069
      View Details
    • Value Estimation
      $435,000
      2,250 SF

      3510 Washington Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,250 SF
      3510 Washington Ave, Madison, WI 53704-4115
      View Details
    • Value Estimation
      $280,000
      4,400 SF

      1325 Parkside Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 4,400 SF
      1325 Parkside Dr, Madison, WI 53704-3680
      View Details

    Similar Nearby for Sale

    • $3,900,000
      125,800 SF

      Madison Mall Redevelopment Opportunity

      14-Acre Site, 125,800 SF, $3.9M
      43 Towne Way, Madison, WI 53704
      View Details
    • $1,195,000

      Mixed-Use Building in Emerson East

      Corner lot property with retail and apartment units in Madison.
      2350 E Washington Ave, Madison, WI 53704
      View Details
    • Contact for pricing
      13 SF

      Retail Space Available for Sale

      3,705 SF retail space available, divisible, co-tenants include Taco Bell.
      4124 E Washington Ave, Madison, WI 53704
      View Details
    • $1,595,000

      Development Parcel on Hard Corner

      Development parcel for apartments and retail in TIF district.
      2609 E Washington Ave, Madison, WI 53704
      View Details
    • $1,960,000
      24,174 SF

      Two-Story Office Buildings For Sale

      Two well-maintained office buildings with easy highway access.
      4785 Hayes Rd, Madison, WI 53704
      View Details
    • $2,122,100
      9,421 SF

      Madison Commercial Property Investment Opportunity

      Commercial property on Madison’s east side with long-term redevelopment possibilities.
      1617-1619 N Stoughton Rd, Madison, WI 53704
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      62,000 SF

      Madison Retail Space - Prime Location

      Former salon, flexible space, ample parking.
      1936 Tennyson Ln, Madison, WI 53704
      View Details
    • $22 SF/Yr
      4,866 SF

      East Towne Drive-Thru Retail Space

      High-visibility Madison restaurant, 4,866 SF
      4833 Annamark Dr, Madison, WI 53704
      View Details
    • $15 SF/Yr
      1,035 SF

      Economical Office Space Near Hwy

      Office suites available near Hwy 51, ample parking.
      2801 International Ln, Madison, WI 53704
      View Details
    • $18 SF/Yr
      2,400 SF

      Retail/Office Space Near East Towne

      Retail and office suites available near East Towne Mall.
      1753-1773 Thierer Rd, Madison, WI 53704
      View Details
    • Contact for pricing
      352,117 SF

      Madison Industrial Giant

      352,117 SF Manufacturing/Distribution
      2211 Fordem Ave, Madison, WI 53704
      View Details
    • Contact for pricing
      30,830 SF

      Lien Crossing Retail Center

      Madison Retail Space: 3 Units Available
      4303 Towne Way, Madison, WI 53704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    226 Ohio Ave
    Madison, WI 53704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.